iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 68.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 118,502 shares of the company's stock after selling 251,988 shares during the period. Loomis Sayles & Co. L P owned 0.38% of iRhythm Technologies worth $8,797,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRTC. Dynamic Technology Lab Private Ltd bought a new position in iRhythm Technologies in the 3rd quarter worth $1,497,000. Algert Global LLC lifted its position in shares of iRhythm Technologies by 332.8% in the third quarter. Algert Global LLC now owns 13,560 shares of the company's stock valued at $1,007,000 after acquiring an additional 10,427 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of iRhythm Technologies by 44.9% during the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company's stock worth $7,473,000 after purchasing an additional 31,193 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in iRhythm Technologies by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company's stock valued at $18,983,000 after purchasing an additional 4,173 shares during the period. Finally, Intech Investment Management LLC bought a new stake in iRhythm Technologies during the 3rd quarter valued at approximately $702,000.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 6,664 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the purchase, the director now directly owns 18,941 shares in the company, valued at $1,423,605.56. The trade was a 54.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company's stock, valued at approximately $12,380,103.89. This trade represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

iRhythm Technologies Trading Up 8.0 %

Shares of NASDAQ IRTC traded up $6.57 during mid-day trading on Thursday, reaching $89.02. The company had a trading volume of 555,695 shares, compared to its average volume of 475,249. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -18.32 and a beta of 1.23. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11. The business's 50-day moving average is $73.51 and its 200-day moving average is $81.74. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to analysts' expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.89) earnings per share. Equities analysts expect that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IRTC shares. Truist Financial increased their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Oppenheimer decreased their price objective on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC dropped their target price on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday, October 31st. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group began coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $108.50.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.